Louis Vuitton owner LVMH unveils blockchain provenance platform ‘AURA’ for luxury industry

LVMH, a French multinational luxury goods conglomerate which owns brands like Louis Vuitton and Christian Dior, in collaboration with ConsenSys and Microsoft, has formed blockchain consortium targeted at the luxury industry.

Called “AURA,” the product tracking and tracing platform is powered by Quorum, a permissioned version of the ethereum blockchain developed by JPMorgan, and utilizes Microsoft Azure. The initiative was first reported by CoinDesk in March.

In a press release dated May 16, ConsenSys said that AURA will enable consumers to access the product history and proof of authenticity of luxury goods — from raw materials to the point of sale, all the way to second-hand markets.

The process involves recording each product during production on the shared ledger, irreproducible and containing unique information. When purchasing an item, consumers would be able to use the brand’s application to receive the AURA certificate containing all product information – details on product origin and components (including ethical and environmental information), instructions for product care, and the after-sales and warranty services available.

“AURA is a groundbreaking innovation for the luxury industry. ConsenSys is proud to contribute and to work with LVMH on an initiative that will serve the entire luxury industry, protecting the interests, integrity, and privacy of each brand, leveraging Ethereum blockchain technology in a truly decentralized way,” Ken Timsit, Managing Director of ConsenSys Solutions, said.

While Louis Vuitton and Parfums Christian Dior are already involved in the project, the team behind AURA decided on a “consortium model,” allowing any luxury brand to become a full member. Discussions are currently underway to bring in more brands from LVMH as well as other luxury groups globally.

Brands joining AURA will have flexibility in designing the capabilities of the platform – they can choose to focus on the sourcing of raw materials, or providing tailored services and strengthening consumer loyalty – depending on their preference.